Proficio Capital Partners LLC Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Proficio Capital Partners LLC purchased a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,482 shares of the textile maker’s stock, valued at approximately $375,000.

A number of other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of G-III Apparel Group by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock valued at $31,624,000 after acquiring an additional 6,598 shares during the period. Geode Capital Management LLC grew its position in G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares in the last quarter. Victory Capital Management Inc. increased its stake in G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after acquiring an additional 472,862 shares during the period. Empowered Funds LLC raised its holdings in G-III Apparel Group by 3.5% in the 4th quarter. Empowered Funds LLC now owns 339,601 shares of the textile maker’s stock valued at $11,078,000 after acquiring an additional 11,478 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of G-III Apparel Group by 0.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 329,720 shares of the textile maker’s stock valued at $10,063,000 after acquiring an additional 1,860 shares during the period. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GIII shares. Barclays decreased their price target on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 18th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. KeyCorp raised their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim lifted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, UBS Group decreased their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.11 on Wednesday. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The stock’s 50-day moving average is $28.76 and its 200-day moving average is $30.48. The stock has a market cap of $1.19 billion, a P/E ratio of 7.12 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The company had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. G-III Apparel Group’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.